Mercuria CSR Report 2021 - Flipbook - Page 75
2021 Corporate Social Responsibility
In 2021, CWP entered into a joint venture with Mercuria Energy Trading. The purpose of the partnership
is to complete CWP’s portfolio in the region, combining Mercuria’s energy trading expertise and financial
strength with CWP’s in-depth renewable energy expertise and local experience. Upon completion, the 2
GW project pipeline stands to abate CO2 emissions by 5 million tons each year, which is the equivalent
of removing over 1 million cars from the roads of Southeast Europe.
How is CWP accelerating the energy transition?
In 2013, CWP entered the Australian renewables market and built the largest wind farm in New South
Wales, among others, and pioneered new business models such as corporate PPAs and non-recourse
financing based on value-enhancing semi-merchant offtake strategies.
The know-how and the references that CWP gained through its experience in Australia are increasingly
valuable for its European activities. CWP has created complex structures that combined virtual/
synthetic PPAs and sleeved arrangements with supplier origin merchandising of total RE through long
term PPAs.
Moreover, the Australian model is 100% compatible with the market design in Romania, Bulgaria, and
Serbia and CWP believes it can utilize the positive practice of Australian projects. CWP can implement
the same commercial strategy for its European activities and establish similar relationships with local
C&I and suppliers. The aim is to lead the energy transition in Southeast Europe with the development
of utility-scale, subsidy-free renewables. This transition is achieved by increasing the share of
renewables in the energy mix, thus also increasing energy independence, and lowering greenhouse
gas emissions.
In 2018, CWP Renewables developed a unique community co-investment scheme in Australia that
enabled the sharing of financial benefits from the Sapphire Wind Farm with community members.
It further supported this community through dedicated funds targeted at education, community
development programs, health and wellbeing, and environmental initiatives. CWP intends to implement
the best practices established by their sister company in Australia in its future renewable projects.
How is CWP engaging its stakeholders?
CWP’s mission is to improve the environment for current and future generations by leading the transition
to renewable energy. This requires taking great care that this transition is made in a sustainable manner
and that projects contribute in a positive way to the communities in which they are built and to broader
environmental protection, in addition to the carbon reduction and abatement they will generate.
Care for people and planet means that a company should be responsible, active, and value-adding
members of their communities. It also means striving not just to reducing environmental and social
footprints, but having a transformative broaderimpact on the regions where a company operates.
Mission driven companies like CWP perceive their wider role as leaders of change and pioneers.
For example, CWP speaks with local, regional, and national governments on how to support them in
achieving their sustainability goals and educating them on why the energy transition will help them
financially, socially and in terms of public health through a series of talks and conferences under the
umbrella “Vision 2030.” CWP also developed a series of ecological initiatives promoting the importance
of being good stewards of nature.
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